This is a legacy page. Please click here to view the latest version.
Fri 16 Nov 2018, 09:21 GMT

Date set for Aegean final basis motions to be heard


US court to hear motions on December 4.


Image credit: Pixabay
The US court handling the bankruptcy case involving marine fuel and lubricants specialist Aegean Marine Petroleum Network Inc has confirmed that it will hear a number of motions on a final basis on December 4.

The list of motions for entry of interim and final orders has been provided below.

1. Cash Management Motion

Aegean seeks approval to operate its cash management system, maintain existing bank accounts and continue to perform intercompany transactions. The motion was previously approved on an interim basis.

2. Hedging Motion

Aegean aims to get the court's consent to continue pre-petition hedging practices, commence post-petition hedging practices, grant superpriority claims on account of the post-petition hedging obligations, pay pre-petition hedging obligations and grant related relief.

3. Insurance Motion

Aegean aims to get the court's permission to continue pre-petition insurance coverage and surety bonds; renew and enter into new insurance policies and surety bonds; and continue to pay brokerage fees.

4. Taxes Motion

Aegean seeks authorization to pay certain taxes and fees.

5. Wages Motion

At a previous hearing on November 8, Aegean was authorized, on an interim basis, to pay an amount not exceeding $4.75m to cover compensation and withholding obligations (including $3.75m in unpaid wages); benefits and entitlements; and other employee benefits;

6. Vendor Motion

Aegean was previously given the go-ahead, on a provisional basis, to pay foreign claims up to $3m; lien claims up to $4.3m; 503(b) claims up to $11.1m; and HSE and other claims in the ordinary course of business.

7. Creditor Matrix Motion

Aegean seeks authorization to file a consolidated list of its creditors - instead of filing separate mailing matrices and creditor lists for each debtor business, and also wants to file a consolidated list of its largest 30 unsecured creditors.

Additionally, the court noted that it could also hear the Utilities Motion either on December 4 or at a future date.

In the Utilities Motion, Aegean is seeking an order to approve its proposed assurance of payment for utility services; and it also aims to prohibit utility providers from altering, refusing, or discontinuing services.

Objections, if any, to the motions must be served on or before November 27.


Paola Prieto, Burando Energies. Burando Energies appoints senior bunker trader to lead Latin America expansion  

Paola Prieto joins Burando Energies’ trading team with a focus on Latin American growth.

Port of Quebec aerial view. Port of Québec secures C$5.1m from provincial government for shore power electrification  

Funding will support shore power infrastructure at two wharves, targeting availability by autumn 2028.

Renewable methanol production illustration. Renewable methanol pipeline growth slows in 2026 as IMO framework delay weighs on maritime demand  

Aviation sector partially offsets maritime slowdown as the global renewable methanol pipeline reaches 61.8 million tonnes.

Priya Choudhary, Malik Supply. Malik Supply adds bunker trader to Dubai office  

Sales professional Priya Choudhary joins Danish bunker firm's UAE operation.

Modi delivery ceremony. Bureau Veritas classes tanker with biofuel-ready and LNG-prepared capabilities  

New Times Shipbuilding delivers 73,500-dwt M/T Modi for Dynacom

Electric tug render. Echandia wins battery contract for two electric tugs under India’s Green Tug Transition Programme  

Swedish battery maker secures second and third electric tug contracts in India’s port decarbonisation drive.

Grande Istanbul presentation ceremony. Grimaldi presents ammonia-ready car carrier Grande Istanbul at Turkish port ceremony  

Vessel is one of 17 next-generation PCTCs commissioned by the Italian shipping group.

Archigos vessel. Capital Ship Management takes delivery of methanol-ready Suezmax tanker Archigos  

The 157,000-dwt vessel, built in South Korea, features AI-assisted navigation and energy-saving technology.

Molgas truck-to-ship bunkering operation. Molgas secures 10-year LNG truck-to-ship licence at the Port of Bilbao  

Spanish energy group obtains decade-long operating licence for LNG bunkering operations.

CMA CGM Notre Dame vessel. CMA CGM names world’s largest LNG-powered containership in Le Havre  

The CMA CGM Notre Dame is formally welcomed into the French carrier’s fleet.


↑  Back to Top